According to Cointelegraph, Tom Emmer, majority whip of the United States House of Representatives and crypto proponent, has stated that digital assets have become a 'sleeper issue' in U.S. politics, both at the state and federal levels. Emmer made these comments at the Permissionless II conference in Austin, Texas on September 11. He believes that certain candidates running for office in 2024 may underestimate the impact of issues surrounding crypto and blockchain, particularly financial privacy concerns and government oversight of central bank digital currencies (CBDCs).
Emmer emphasized that financial privacy is a politically potent issue, regardless of one's political persuasion. He also noted a generational divide in the U.S., with residents potentially pushing back on policies that could inhibit the digital space and 'flush out' technologically ignorant lawmakers. At least three candidates from both major U.S. political parties have taken a public position on CBDCs for the 2024 race.
Emmer has reintroduced a bill aimed at limiting the Federal Reserve from issuing a CBDC in the United States. He has also backed an appropriations amendment for the Securities and Exchange Commission's funds, which could reduce the commission's ability to follow through with enforcement actions on crypto firms. On September 20, the House Financial Services Committee will meet in a markup session for the Digital Dollar Pilot Prevention Act, legislation that could prohibit the Fed from initiating CBDC pilot programs without approval from Congress.